The Recession is Over! The Recession is Over!

September 27, 2010

By Edwin Dean

Doesn’t that make you feel better?  According to the National Bureau of Economic Research, official arbiter of economic cycles, the recession ended in June of 2009 and a new recovery period began, no matter how tepid.  http://nber.org/cycles/sept2010.html.  Never mind that since that time the economy has lost more jobs than it has added and that the national unemployment rate, at 9.6%, remains near its recent high.  National output of goods and services has increased.

Nonetheless, there are several favorable straws in the wind to give some grounds for a hope that employment conditions are indeed slowly improving.

  • Indeed.com, which aggregates jobs being advertised on job boards, newspapers and corporate employment websites, is showing 8,971 sales jobs currently being advertised in Colorado at a compensation level of $40,000 or higher.  http://www.indeed.com/jobs?q=Sales&l=Colorado
  • The most recent JOLT Report (Job Openings and Labor Turnover) of the federal Bureau of Labor Statistics http://www.bls.gov/news.release/jolts.htm shows that there were 2,723,000 private job openings available in July of this year, up from 2,046,000 openings a year earlier.
  • According to the American Staffing Association, temporary jobs have increased 21% over this period as more employers hire through staffing agencies to help control health care costs and maintain flexibility.  At a current index value of 96, U.S. staffing employment is 39% higher than the level reported for the first week of the current year and is 25% higher than the same weekly period in 2009.  http://www.americanstaffing.net/statistics/staffing_index.cfm

The term “cautiously optimistic” seems to fit.


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